We are very attentive with accounting matters.
As rental property managers it is our solemn charge to reconcile every cent of income and each expense. Our staff work diligently to make sure that each rental property owner has the tools and paperwork to see exactly where is money is going to and coming from. To accomplish this duty we employ one of the most powerful software tools in our profession: Rent Manager.
It is our practice to process and deposit rents on the same day they are received. Funds are deposited into an escrow account (not into our operating account). We prepare a monthly statement that states the rental income as well as any bills which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will describe what monies we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. In addition, Nesbitt Realty never marks up the repairs, nor do we charge a fee per repair. At the end of the year, we organize the monthly reports into a year-end statement. In January we send to the rental investors, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply give the 1099 to your tax preparer.
Merrifield Rental Management Resources
Basics
Elementary info regarding management services in Merrifield.
Getting Started
Learn more about getting started with rental property management
Find A Tenant
Market your property to rent to find a reliable tenant in Merrifield fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for real estate investors?
Cost
An overview of prices of property management services in Merrifield
Vetting
How Nesbitt Realty checks the backgrounds of renters for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage property?
Clients
Who uses Nesbitt Realty management services?
Your investment in real estate is a business like any other. As a landlord, you have expenses, income and with perseverance, you also have the expectation of financial reward.
In the business of real estate investment, nearly all cashflow comes from tenants. And that's the catch: If you have tenants, you will have problems. Even the best of tenants have needs and all properties will require maintenance or management at some point. A property management company takes all the hassle out of rental management.
Do you need know more about the local real estate market?
Our Guide to Real Estate is a free tool for everyone who needs to investigate real estate facts about Merrifield and nearby areas. The Guide to Real Estate has information regarding what has sold and what is currently listed, and a few surprising facts that you might not know. In addition, our Guide spotlights some elements of residing in Merrifield. Of course, all of this is useful for purchasers and sellers, but property owners and renters might also find these tools to be very edifying.